PANJIM: TTK Prestige Ltd, India’s largest and most trusted kitchen appliances brand joined hands with German specialty glass producer and technology company Schott AG for a strategic partnership.
TTK Prestige and Schott also jointly launched a range of world class high quality cooking appliances in the brand name ‘Prestige Premia’.
an exquisite range of gas tables and induction cook-tops with world renowned highly efficient Schott Ceran glass-ceramic cook-tops and Schott tempered flat glass. The product range is positioned as a lifestyle product and will be targeted at today’s upwardly mobile customer.
Two categories are being introduced to the Indian market under the brand Prestige Premia include Schott Ceran, glass-ceramic cook-tops for high end Prestige Premia induction cooker and gas stoves made from Schott tempered flat glass.
Customs, Central Excise, Service Tax targets exceeded
PANJIM: The Commissionerate of Customs, Central Excise and Service Tax, Goa has exceeded combined revenue target of Rs 2705 crore for the year 2011-12 by Rs 2492 crore (92%).
The combined target given for Central Excise duty (Rs 445 crore), Customs duty (Rs 1830 crore) and Service Tax (Rs 430 crore) for the year was Rs 2705 crore. As against this, the actual realization under all the three heads is Rs 5197 crore. On actual comparison over 2010-11 collection, the increase is by Rs 2581 crore (98.66%). In the year 2010-11 the actual collection under all the three heads was Rs, 2616 crore. The growth of Customs duties is very huge to the extent of Rs 4528 crore for the year as against the target of Rs 1830 crore for the year and against the actual collection of Rs 2016 crore in the year 2010-11.
The increase is by Rs 2698 crore over the target and Rs 2512 crore over 2010-11 actuals. In Service tax too the growth is impressive as the actual realization has gone upto Rs 391 crore from Rs 281.43 crore in the year 2010-11, the increase is Rs 109 crore (39%), But, it fell short for the target by Rs 39 crore (9%). It is noticed that revenue for the transport of goods through inland water ways service has fallen sharply by Rs 13 crore due to fall in iron ore exports. In Central Excise the target set could not be met as the actual realization of Rs 278 crore for the year fell short by 37% from the target
Rs 445 crore and by 12.74% over 2010-11 actual collection of Rs 318,70 crore. The reason for Central Excise not doing well is basically due to the negative performance by most of the major industrial units on account of certain unit specific problems.
However, in the category of other units than major units a positive growth is seen. The Commissionerate geared up its machinery and it also interacted with the stake holders in all the three areas besides mounting publicity campaign in the month of March, 2012 to ensure maximum collection in that month. The effort made by the Commissionerate's staff and the cooperation extended by the importers/ exporters, manufacturers and Service providers have paid rich dividends in the form of higher tax revenue collection in the month of March 2012.
In the month of March the Central Excise collection stood at Rs 51 crore as against the monthly average of Rs 2 crore and in Service tax it was Rs 87 crore as against the monthly average collection of Rs 35 crore.
In Customs also in the month of March alone Rs 668 crore was realised as against the average monthly collection of about Rs 500 crore. In Customs the buoyancy in revenue is basically on account of iron ore exports and the duty hike on iron ore. As percentage of export duty to the total Customs duty the share of export duty has gone up to 82% from 62% a year before.
The export duty collected has gone upto Rs 3714 crore from Rs1564 crore in the year 2010-11.
It means that they have shown an increase of Rs 2150 crore which accounts for about 138%. On import side also the growth is quite significant. Import duty collected for the year is Rs 8l4 crore over Rs 451 crore which means an increase of about Rs 363 crore (80%). But as percentage to the actual duty, the share of imports has gone down from 38% to 18%, Coal imports contribution is quite substantial on import side followed by naphtha and fuel oil.
The Commissionerate has received its 2012-13 revenue targets in all the three areas. The combined target given is Rs 6615 crore (Customs Rs 5725 crore + Central Excise Rs 390 crore + Service Tax Rs 500 crore), which is an increase of Rs 1488 crore (27%) over 2011-12 collection. Commissioner is hopeful that this target will be achieved with the active cooperation of trade and industry and the staff.
He urges trade and industry to discharge their duty / tax liabilities properly and correctly and promptly and assures them the necessary help and cooperation from the Commissionerate in their endeavour.